Category Expenses

How to think of Category Expenses in Financial Hope

Category Expenses

When you’re thinking of a category expense think of groceries think of your personal items or home expenses.

These are expenses that happen regularly but they’re not coming from the same place every time. You don’t always get gas at the same gas station or dine at the same restaurant.

However, in a budget, we want to capture the category of restaurants as a total per month. For this reason, expenses that are category type expenses are not attributable to a particular origin and transcend multiple accounts.

To account for this Financial Hope will gather all of your spending for each category across every account that you have linked, Then compare the rolling total for that category to the amount you have budgeted for that category on a given time horizon

Category Expense Example

Let’s say that you wanted to budget $100 a month for restaurants and dining.

Financial Hope will look at all of the accounts that you have linked and add up all of the restaurant transactions. In this case, we will say that it found five transactions over the past 30 days.

1.Restaurant A: $30

2.Vending Machine: $6

3.Restaurant B: $52

Total: $88

Remaining $22